Data Source: from January 2001 to December 2022 (~22 years)
Consolidated Returns as of 31 December 2022
Category: Stocks
ETF: iShares MSCI Taiwan ETF (EWT)

In the last 20 Years, the iShares MSCI Taiwan ETF (EWT) ETF obtained a 7.98% compound annual return, with a 22.37% standard deviation.

In 2022, the ETF granted a 11.35% dividend yield. If you are interested in getting periodic income, please refer to the iShares MSCI Taiwan ETF (EWT) ETF: Dividend Yield page.

The ETF is related to the following investment themes:

  • Asset Class: Equity
  • Size: Large Cap
  • Style: Blend
  • Region: Developed Asia Pacific
  • Country: Taiwan

Historical Returns as of Dec 31, 2022

Historical returns and Metrics of iShares MSCI Taiwan ETF (EWT) ETF.

Returns and metrics are calculated based on monthly returns, assuming:
  • No fees or capital gain taxes
  • the reinvestment of dividends
ISHARES MSCI TAIWAN ETF (EWT) ETF
Portfolio Metrics
Data Source: 1 January 2001 - 31 December 2022 (~22 years)
Swipe left to see all data
Metrics as of Dec 31, 2022
1M 3M 6M 1Y 3Y 5Y 10Y 20Y MAX
(~22Y)
Portfolio
Return (%)
-6.74 9.97 -6.00 -28.84 6.46 7.70 8.07 7.98 5.97
US Inflation (%) -0.31 0.00 0.16 6.45 4.92 3.78 2.60 2.51 2.46
Infl. Adjusted
Return (%)
-6.45 9.97 -6.15 -33.16 1.47 3.78 5.33 5.34 3.43
Returns / Inflation rates over 1 year are annualized.
RISK INDICATORS
Standard Deviation (%) 30.37 25.16 22.12 18.19 22.37 24.20
Sharpe Ratio -1.00 0.23 0.30 0.41 0.31 0.08
Sortino Ratio -1.78 0.34 0.42 0.57 0.44 0.12
MAXIMUM DRAWDOWN
Drawdown Depth (%) -37.46 -37.46 -37.46 -37.46 -58.22 -58.22
Start (yyyy mm) 2022 01 2022 01 2022 01 2022 01 2007 11 2007 11
Bottom (yyyy mm) 2022 10 2022 10 2022 10 2022 10 2009 01 2009 01
Start to Bottom (# months) 10 10 10 10 15 15
Start to Recovery (# months) in progress
> 12
> 12
> 12
> 12
42
42
ROLLING PERIOD RETURNS - Annualized
Best Return (%) 85.31 31.25 22.90 13.74 10.04
Worst Return (%) -52.06 -16.87 -8.98 2.07 6.13
% Positive Periods 68% 87% 91% 100% 100%
MONTHS
Positive 0 1 2 3 20 35 71 134 145
Negative 1 2 4 9 16 25 49 106 119
% Positive 0% 33% 33% 25% 56% 58% 59% 56% 55%
WITHDRAWAL RATES (WR)
Safe WR (%) 42.81 25.14 13.78 9.07 5.81
Perpetual WR (%) 1.45 3.64 5.06 5.07 3.31
Terms and Definitions
  • Annualized Portfolio Return: it's the annualized geometric mean return of the ETF
  • Standard Deviation: it's a measure of the dispersion of returns around the mean
  • Sharpe Ratio: it's a measure of risk-adjusted performance of the ETF. It's calculated by dividing the excess return of the ETF over the risk-free rate by the ETF standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
  • Sortino Ratio: another measure of risk-adjusted performance of the ETF. It's a modification of the Sharpe Ratio (same formula but the denominator is the ETF downside standard deviation).
  • Maximum Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.
  • Rolling Returns: returns over a time frame (best, worst, % of positive returns).
  • Pos./Neg. Months: number of months with positive/negative return.
  • Safe Withdrawal Rate (SWR): it's the percentage of the original portfolio balance that can be withdrawn at the end of each year with inflation adjustment, without the portfolio running out of money (dollar amount withdrawal).
  • Perpetual Withdrawal Rate (PWR): it's the percentage of portfolio balance that can be withdrawn at the end of each year, while retaining the inflation adjusted portfolio balance (percentage withdrawal).

Correlations as of Dec 31, 2022

Monthly correlations of iShares MSCI Taiwan ETF (EWT) ETF vs the main Asset Classes, over different timeframes.

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1.

If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.

Asset correlations are calculated based on monthly returns.

Columns are sortable (click on table header to sort).

ISHARES MSCI TAIWAN ETF (EWT) ETF
Monthly correlations as of 31 December 2022
Swipe left to see all data
Correlation vs EWT
 
Asset Class 1 Year 5 Years 10 Years Since
Jan 2001
US Total Stock Market
VTI
0.62
0.71
0.67
0.69
US Large Cap
SPY
0.64
0.70
0.66
0.67
US Small Cap
IJR
0.55
0.68
0.59
0.66
US REITs
VNQ
0.61
0.62
0.54
0.53
US Technology
QQQ
0.62
0.67
0.65
0.65
Preferred Stocks
PFF
0.75
0.67
0.60
0.47
EAFE Stocks
EFA
0.86
0.77
0.73
0.71
World All Countries
VT
0.77
0.78
0.75
0.75
Emerging Markets
EEM
0.96
0.88
0.86
0.82
Europe
VGK
0.81
0.76
0.69
0.69
Pacific
VPL
0.92
0.79
0.76
0.67
Latin America
FLLA
0.38
0.49
0.53
0.65
US Total Bond Market
BND
0.83
0.54
0.47
0.11
Long Term Treasuries
TLT
0.81
0.21
0.19
-0.13
US Cash
BIL
0.24
-0.16
-0.09
-0.11
TIPS
TIP
0.64
0.51
0.48
0.16
Invest. Grade Bonds
LQD
0.85
0.67
0.60
0.27
High Yield Bonds
HYG
0.65
0.69
0.66
0.57
International Bonds
BNDX
0.69
0.46
0.40
0.16
Emerg. Market Bonds
EMB
0.90
0.72
0.69
0.51
Gold
GLD
0.60
0.29
0.24
0.16
Commodities
DBC
0.28
0.44
0.38
0.37

Capital Growth as of Dec 31, 2022

Capital growth, returns, stats are calculated assuming a reinvestment of dividends.

If you are interested in getting periodic income, please refer to the iShares MSCI Taiwan ETF (EWT) ETF: Dividend Yield page.

An investment of 1000$, since January 2003, now would be worth 4640.27$, with a total return of 364.03% (7.98% annualized).

The Inflation Adjusted Capital now would be 2828.28$, with a net total return of 182.83% (5.34% annualized).
An investment of 1000$, since January 2001, now would be worth 3580.42$, with a total return of 258.04% (5.97% annualized).

The Inflation Adjusted Capital now would be 2099.05$, with a net total return of 109.91% (3.43% annualized).

Drawdowns

Worst drawdowns since January 2003.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-58.22% Nov 2007 Jan 2009 15 Apr 2011 27 42
-37.46% Jan 2022 Oct 2022 10 in progress 2 12
-26.19% May 2011 Sep 2011 5 May 2014 32 37
-22.68% May 2015 Jan 2016 9 Jan 2017 12 21
-22.47% Mar 2004 Jul 2004 5 Dec 2005 17 22
-19.84% Jan 2020 Mar 2020 3 Jul 2020 4 7
-15.59% Feb 2018 Dec 2018 11 Oct 2019 10 21
-15.15% Feb 2003 Apr 2003 3 Jun 2003 2 5
-11.34% May 2006 Jul 2006 3 Nov 2006 4 7
-7.51% Sep 2014 Sep 2014 1 Apr 2015 7 8
-6.23% Feb 2006 Feb 2006 1 Apr 2006 2 3
-4.89% Nov 2003 Nov 2003 1 Jan 2004 2 3
-4.82% Jan 2007 Apr 2007 4 May 2007 1 5
-4.54% Sep 2021 Sep 2021 1 Dec 2021 3 4
-3.68% Sep 2017 Sep 2017 1 Oct 2017 1 2
-3.38% May 2021 May 2021 1 Aug 2021 3 4
-2.62% Nov 2017 Nov 2017 1 Jan 2018 2 3
-1.91% Aug 2007 Aug 2007 1 Sep 2007 1 2
-1.46% Aug 2020 Aug 2020 1 Sep 2020 1 2
-1.26% Sep 2003 Sep 2003 1 Oct 2003 1 2

Worst drawdowns since January 2001.

Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months
-58.22% Nov 2007 Jan 2009 15 Apr 2011 27 42
-45.68% Feb 2001 Sep 2001 8 Jan 2006 52 60
-37.46% Jan 2022 Oct 2022 10 in progress 2 12
-26.19% May 2011 Sep 2011 5 May 2014 32 37
-22.68% May 2015 Jan 2016 9 Jan 2017 12 21
-19.84% Jan 2020 Mar 2020 3 Jul 2020 4 7
-15.59% Feb 2018 Dec 2018 11 Oct 2019 10 21
-11.34% May 2006 Jul 2006 3 Nov 2006 4 7
-7.51% Sep 2014 Sep 2014 1 Apr 2015 7 8
-6.23% Feb 2006 Feb 2006 1 Apr 2006 2 3
-4.82% Jan 2007 Apr 2007 4 May 2007 1 5
-4.54% Sep 2021 Sep 2021 1 Dec 2021 3 4
-3.68% Sep 2017 Sep 2017 1 Oct 2017 1 2
-3.38% May 2021 May 2021 1 Aug 2021 3 4
-2.62% Nov 2017 Nov 2017 1 Jan 2018 2 3
-1.91% Aug 2007 Aug 2007 1 Sep 2007 1 2
-1.46% Aug 2020 Aug 2020 1 Sep 2020 1 2
-0.32% Jul 2014 Jul 2014 1 Aug 2014 1 2

Rolling Returns ( more details)

iShares MSCI Taiwan ETF (EWT) ETF: annualized rolling and average returns

Swipe left to see all data
Rolling
Period
Return (*) Negative
Periods
Average (%) Best (%) Worst (%)
1 Year
9.70 85.31
Apr 2020 - Mar 2021
-52.06
Mar 2008 - Feb 2009
31.62%
2 Years
8.70 53.94
Feb 2009 - Jan 2011
-26.98
Feb 2007 - Jan 2009
23.24%
3 Years
8.00 31.25
Jan 2019 - Dec 2021
-16.87
Feb 2006 - Jan 2009
13.10%
5 Years
7.33 22.90
May 2016 - Apr 2021
-8.98
Mar 2004 - Feb 2009
8.78%
7 Years
6.64 14.94
Jan 2015 - Dec 2021
-5.05
Feb 2002 - Jan 2009
2.76%
10 Years
6.70 13.74
Jan 2012 - Dec 2021
2.07
Feb 2006 - Jan 2016
0.00%
15 Years
6.56 9.60
Sep 2006 - Aug 2021
1.72
Feb 2001 - Jan 2016
0.00%
20 Years
7.88 10.04
Oct 2001 - Sep 2021
6.13
Feb 2001 - Jan 2021
0.00%
(*) Annualized rolling and average returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the iShares MSCI Taiwan ETF (EWT) ETF: Rolling Returns page.

Seasonality

iShares MSCI Taiwan ETF (EWT) ETF: in which months is it better to invest?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.

For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.19
60%
-0.54
20%
-0.88
60%
1.85
60%
-1.54
60%
0.61
60%
3.59
80%
-0.41
40%
-2.60
40%
-1.30
60%
7.26
100%
2.65
60%
 Capital Growth on monthly avg returns
100
101.19
100.64
99.76
101.60
100.04
100.65
104.26
103.83
101.13
99.81
107.06
109.89
Best 6.7
2018
5.6
2021
4.6
2018
12.3
2020
2.1
2022
8.2
2020
10.9
2020
2.2
2021
4.2
2019
6.8
2019
22.0
2022
9.4
2020
Worst -7.7
2020
-5.2
2018
-11.9
2020
-9.0
2022
-7.7
2019
-11.6
2022
-0.6
2021
-2.1
2022
-14.2
2022
-12.1
2018
0.5
2018
-6.7
2022
Monthly Seasonality over the period Jan 2018 - Dec 2022
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.31
50%
1.37
60%
0.55
60%
1.62
70%
-0.37
60%
1.10
60%
2.26
70%
-0.51
50%
-1.80
40%
1.23
80%
2.81
60%
0.84
50%
 Capital Growth on monthly avg returns
100
100.31
101.69
102.25
103.91
103.53
104.67
107.04
106.49
104.58
105.87
108.84
109.76
Best 7.3
2017
5.6
2021
7.9
2016
12.3
2020
3.2
2014
8.2
2020
10.9
2020
4.8
2014
4.5
2016
6.8
2019
22.0
2022
9.4
2020
Worst -7.7
2020
-5.2
2018
-11.9
2020
-9.0
2022
-7.7
2019
-11.6
2022
-6.8
2015
-9.2
2015
-14.2
2022
-12.1
2018
-2.7
2015
-6.7
2022
Monthly Seasonality over the period Jan 2013 - Dec 2022
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Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
1.65
50%
0.25
50%
1.30
64%
1.71
55%
-0.41
50%
-0.43
50%
0.50
55%
-0.23
45%
-2.02
45%
1.18
68%
2.20
64%
3.02
64%
 Capital Growth on monthly avg returns
100
101.65
101.91
103.23
104.99
104.56
104.11
104.63
104.40
102.29
103.50
105.77
108.97
Best 23.7
2001
12.7
2008
18.3
2009
26.6
2009
12.4
2003
9.6
2007
14.3
2003
8.9
2003
13.7
2009
10.3
2001
22.0
2022
21.5
2001
Worst -10.3
2009
-9.7
2003
-11.9
2020
-9.0
2022
-10.6
2010
-12.9
2008
-16.5
2001
-9.4
2011
-20.0
2001
-18.4
2008
-12.3
2007
-6.7
2022
Monthly Seasonality over the period Jan 2001 - Dec 2022

Monthly/Yearly Returns

iShares MSCI Taiwan ETF (EWT) ETF data source starts from January 2001: let's focus on monthly and yearly returns.

We are providing two different views:
  • Histogram: it shows the distribution of the returns recorded so far
  • Plain Table: it shows the detailed monthly and yearly returns
MONTHLY RETURNS HISTOGRAM
Jan 2001 - Dec 2022
145 Positive Months (55%) - 119 Negative Months (45%)
MONTHLY RETURNS TABLE
Jan 2001 - Dec 2022
(Scroll down to see all data)
Swipe left to see all data
Yearly Return(%)
Monthly Return(%)
Year Total Infl.Adj Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022
-28.84 -33.16 -2.6 -1.5 -3.9 -9.0 2.1 -11.6 1.7 -2.1 -14.2 -3.3 22.0 -6.7
2021
+28.94 +20.47 4.3 5.6 2.6 7.6 -3.4 2.5 -0.6 2.2 -4.5 1.6 2.6 5.8
2020
+31.50 +29.74 -7.7 -1.4 -11.9 12.3 0.4 8.2 10.9 -1.5 2.2 0.6 9.5 9.4
2019
+33.33 +30.35 5.3 -0.3 4.2 3.6 -7.7 5.7 0.9 -1.0 4.2 6.8 1.6 6.9
2018
-9.92 -11.61 6.7 -5.2 4.6 -5.3 0.9 -1.7 5.0 0.3 -0.6 -12.1 0.5 -2.1
2017
+26.85 +24.23 7.3 2.8 2.6 1.6 1.8 4.0 2.3 2.4 -3.7 5.5 -2.6 0.4
2016
+17.72 +15.33 -3.4 4.1 7.9 -5.8 2.1 5.3 7.0 0.0 4.5 0.4 -2.5 -2.2
2015
-12.87 -13.51 0.8 5.1 -1.6 4.4 -0.6 -3.4 -6.8 -9.2 -1.5 5.6 -2.7 -2.7
2014
+6.86 +6.06 -5.9 3.6 2.3 1.7 3.2 4.6 -0.3 4.8 -7.5 2.9 0.6 -2.5
2013
+7.85 +6.25 -1.6 0.9 -1.3 4.9 -2.6 -2.5 2.5 -1.1 3.3 4.3 -1.0 2.1
2012
+18.65 +16.62 8.9 6.7 -1.4 -4.5 -5.8 1.3 -0.5 4.0 5.7 -5.8 7.5 2.5
2011
-21.87 -24.12 -0.3 -5.3 0.8 7.7 -1.5 -3.7 -0.1 -9.4 -14.0 9.7 -4.6 -1.2
2010
+22.76 +20.95 -6.9 -2.5 6.6 1.3 -10.6 -1.4 10.8 -2.2 11.6 2.6 1.4 13.0
2009
+73.75 +69.14 -10.3 0.1 18.3 26.6 10.3 -10.5 12.3 -4.3 13.7 -5.8 5.3 7.8
2008
-45.23 -45.28 -8.9 12.7 2.7 4.5 -2.0 -12.9 -7.0 -0.8 -17.1 -18.4 -11.7 5.8
2007
+6.34 +2.17 -2.0 -2.0 0.1 -0.9 5.7 9.6 1.6 -1.9 5.4 8.0 -12.3 -3.1
2006
+18.74 +15.80 8.0 -6.2 0.7 8.7 -7.0 -0.4 -4.3 1.9 2.4 3.4 9.7 2.1
2005
+4.62 +1.16 -2.3 5.6 -6.9 -1.8 4.2 2.1 1.2 -4.1 -0.3 -5.6 7.3 6.3
2004
+8.04 +4.63 8.7 3.4 -3.6 -8.3 0.6 -3.7 -9.4 8.6 0.6 -0.1 5.3 7.8
2003
+38.18 +35.63 9.3 -9.7 -3.2 -3.0 12.4 5.2 14.3 8.9 -1.3 6.0 -4.9 1.6
2002
-24.40 -26.15 5.3 -2.9 8.6 -2.4 -4.1 -7.4 -14.0 -1.3 -13.1 9.3 3.9 -6.2
2001
+2.06 +0.50 23.7 -8.2 0.2 -6.4 -7.6 1.3 -16.5 0.8 -20.0 10.3 13.3 21.5
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